Slide 1: Interim Report First 3 Months 2023/24
Interim Report First 3 Months 2023/24 Conference Call on February 6, 2024
Slide 2: Executive summary of first 3 months 2023/24
Executive summary of first 3 months 2023/24 Overall stable market conditions and good operative performance led to solid three-month figures for FY 2023/24 Operating EBT Operating ROCE Operating EBT positively influenced by higher treatment and refining charges 3M 2023/24 of 9.7 % for concentrates,
Slide 3: Aurubis achieved solid 3-month results
Aurubis achieved solid 3-month results 3M 3M Change vs. (operating IFRS) 2023/24 2022/23 prior year Revenues €m 3,896 4,096 -5 % Gross profit €m 406 393 3% EBITDA €m 160 172 -7 % EBIT €m 111 124 -10 % EBT €m 111 125 -11 % Consolidated net income €m 89 99 -10 % Operating ROCE (%) 9.7 16.3 - (operatin
Slide 4: Market conditions in Q1 2023/24
Market conditions in Q1 2023/24 Trend in significant market prices and refining charges 100 % = Sept. 2020 600% Sulfuric acid price 500% (spot CFR Brazil) Copper price (settlement) 400% Exchange rate (US$/€) 300% European refining charges for copper scrap no. 2 200% Copper premium 100% TC/RCs for co
Slide 5: Gross margin for the Group in 2023/24 YTD
Gross margin for the Group in 2023/24 YTD Breakdown of income components in the Aurubis Group 3M 2023/24 YTD (YTD prior-year figures) 36 % (30 %) Treatment and refining charges for concentrates + 29 % (39 %) recycling materials Metal result ~€ 514 million* (~€ 540 million*) 35 % (31 %) Premiums + pr
Slide 6: Stable overall Group costs
Stable overall Group costs Overview of cost/expense positions 3M 2023/24 YTD (YTD prior-year figures) 11 % (11 %) Depreciation and amortization 33 % (30 %) Personnel costs 12 % (13 %) Consumables ~€ 458 million* 13 % (12 %) (~€ 457 million*) External services 21 % (18 %) 10 % (16 %) Other operating
Slide 7: Significant decrease in energy costs due to reduction of market prices
Significant decrease in energy costs due to reduction of market prices Breakdown of energy costs 3M 2023/24 (3M PY) Key factors influencing the reduction of energy costs in Q1 2023/24: 63 % (58 %) Electricity − Active energy management/hedging incl. oxygen transactions 28 % (38 %) Natural gas − Elec
Slide 8: Aurubis’ financial position remains strong
Aurubis’ financial position remains strong 3M 3M 2023/24 2022/23 Target ROCE1 % 9.7 16.3 15.0 Equity ratio % 58.6 56.6 > 40.0 (equity / total assets) Debt coverage2 0.2 -0.3 < 3.0 3M 3M Additional KPIs 2022/23 2022/23 Capital expenditure €m 153 72 Capital employed €m 3,597 3,099 (balance sheet date)
Slide 9: Multimetal Recycling segment
Multimetal Recycling segment Breakdown of income components in MMR segment 3M 2023/24 YTD (YTD prior-year figures) 3M 3M Operating results 2023/24 2022/23 48 % (46 %) Refining charges 43% (49 %) EBIT €m 28 34 Metal result for recycling input EBT €m 29 35 ROCE1 % 13.5 18.3 Quantities Copper scrap / b
Slide 10: Custom Smelting & Products segment
Custom Smelting & Products segment Breakdown of income components in CSP segment 3M 3M 3M 2023/24 YTD (YTD prior-year figures) Operating results 2023/24 2022/232 EBIT €m 107 108 46 % (41 %) EBT €m 107 108 24 % (35 %) Premiums + ROCE1 % 11.5 18.9 Metal result products Quantities Concentrates mt 646 6
Slide 11: Market outlook for 2023/24
Market outlook for 2023/24 We anticipate a steady concentrate supply for Aurubis from the mine side due to our long-term Copper sourcing strategy. concentrates Our smelters are already well supplied into Q3 of FY 2023/24. In the short term, Aurubis expects a subdued supply situation for recycling ma
Slide 12: EBT between € 380 million and € 480 million
FY 2023/24 guidance Our forecast range Operating EBT Operating ROCE between € 380 million between 10 % and € 480 million and 14 % Operating EBT Operating ROCE in € million in % Group 380–480 10–14 Multimetal Recycling 60–120 5–9 Custom Smelting & Products 410–470 19–23 Aurubis Analyst Conference Cal
Slide 13: Strategic investments and EBITDA impact to increase substantially
Strategic investments and EBITDA impact to increase substantially Short term Medium term Long term Currently approved Medium-term planning Until 2030 Strategic capex ~€ 1.7 billion Additional strategic capex is included Ambition and scale of our long-term approved in the medium-term planning and gro
Slide 14: Strong pipeline features advanced projects included in medium-term planning
Strong pipeline features advanced projects included in medium-term planning, plus wealth of nascent concepts to drive sustainable growth Strategic projects from development to implementation Research & Concept Basic Without status Feasibility In implementation ideation development engineering Indust
Slide 15: Timeline of strategic projects in implementation
Timeline of strategic projects in implementation Timeline for the commissioning of our strategic projects 2024 2025 2026 − Bleed treatment Olen Beerse (BOB) − Solar Park 4 (BG Pirdop) − Tankhouse Expansion (BE Olen) (BG Pirdop) − CRH (DE Hamburg) − Industrial Heat II (DE Hamburg) − Precious Metals R
Slide 16: Aurubis Richmond, USA Visible progress — first important milestones achieved
Aurubis Richmond, USA Visible progress — first important milestones achieved Aurubis Analyst Conference Call on February 6, 2024 16
Slide 17: Aurubis Richmond, USA Visible progress — first important milestones achieved
Aurubis Richmond, USA Visible progress — first important milestones achieved Aurubis Analyst Conference Call on February 6, 2024 17
Slide 18: Aurubis Richmond showing significant progress since groundbreaking in June 2022
Aurubis Richmond showing significant progress since groundbreaking in June 2022 Nov ‘23 Start of sampling/ pre-processing Focus on finalization of Start of cold Start of hot process equipment commissioning commissioning installation and (Module 1) (Module 1) Groundbreaking First equipment commission
Slide 19: Annual General Meeting on February 15, 2024
Annual General Meeting on February 15, 2024 Aurubis dividend (in € per share) Virtual Annual General Meeting on February 15, 2024 1.80 The proposed dividend for shareholders 1.60 is € 1.40 per share 1.40 1.30 1.25 Link to the AGM: − www.aurubis.com/agm − www.aurubis.com/hauptversammlung 18/19 19/20
Slide 20: Financial calendar
Financial calendar − AGM February 15, 2024 − Q2 2023/24 May 8, 2024 − Q3 2023/24 August 5, 2024 − Annual Report 2023/24 December 5, 2024 Aurubis Analyst Conference Call on February 6, 2024 20
Slide 21: Interim Report First 3 Months 2023/24
Interim Report First 3 Months 2023/24 Conference Call on February 6, 2024
Slide 22: Your IR contacts
Your IR contacts Angela Seidler Elke Brinkmann Ferdinand von Oertzen VP Investor Relations, Head of Investor Relations Senior Manager Investor Relations Corporate Communications +49 40 7883-2379 +49 40 7883-3179 +49 40 7883-3178 e.brinkmann@aurubis.com f.vonoertzen@aurubis.com a.seidler@aurubis.com
Slide 23: Aurubis at a glance
Based in Hamburg, Aurubis AG The company’s main expertise Aurubis develops its leading market is in optimally processing at a glance position with a responsible approach to the environment, concentrates and recycling raw materials with people and resources complex qualities The company, which was fo
Slide 24: Scheduled shutdowns in the next 3 years
Scheduled shutdowns in the next 3 years EBT effect from scheduled shutdowns (in € million) Status: December 2023 FY 2023/24 FY 2024/25 FY 2025/26 Smelter May until maintenance beginning of ~44 Hamburg July 2024 Anode May/June furnace ~6 2026 Hamburg Smelter Apr/ maintenance ~24 June 2025 Pirdop KRS
Slide 25: Primary copper production process
Primary copper production process Sulfuric acid plant Off-gas cleaning Copper scrap Copper concentrates Copper matte Blister copper (64 % Cu) (98 % Cu) Flash smelter Converter Anode furnace Copper Nickel sulfate (99.5 % Cu) Anode Cathode Anode slime Anode casting wheel Tankhouse Precious metal refin
Slide 26: Disclaimer
Disclaimer Forward-looking statements This document contains forward-looking statements that involve risks and uncertainties, including statements about Aurubis’ plans, objectives, expectations and intentions. Readers are cautioned that forward-looking statements include known and unknown risks and